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An announcement from New World Development ( (HK:0017) ) is now available.
New World Development Company Limited anticipates a significant decline in financial performance for the first half of the fiscal year 2025, with a projected core operating profit decrease of 15% to 19% compared to the same period in the previous year. The company attributes an expected loss of approximately HK$6,600 million to HK$6,800 million to substantial impairment losses on development properties, increased fair value loss of investment properties, a sharp drop in bond redemption gains, and absence of one-off property gains from prior periods, despite a stabilizing property market in the region.
More about New World Development
New World Development Company Limited is a prominent player in the property development and investment sector, primarily focusing on real estate projects in Hong Kong and Mainland China. The company operates through its subsidiaries, engaging in property development, infrastructure, and service industries, contributing significantly to the regional property market.
YTD Price Performance: -14.22%
Average Trading Volume: 101
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.35B
For an in-depth examination of 0017 stock, go to TipRanks’ Stock Analysis page.
